Bitcoin (BTC) has fallen back during the current session as it failed to reclaim the $115,000 mark. The flagship cryptocurrency is down over 1% during the ongoing session, trading around $113,080. BTC must break above the $115,000 level to confirm its upside continuation. However, some analysts see a retreat towards $110,000 first due to concerns around the CME Futures gap. Strategy Bought Over 7,000 BTC In September Michael Saylor’s Strategy purchased over 7,378 BTC worth $837 million in September. The coins were purchased at an average price of $113,520 per coin. According to the company’s data, it has made over 80 separate Bitcoin purchases. While buying nearly $1 billion in Bitcoin over a month may seem a lot, it represents a slowdown for Strategy. The company purchased 7,714 BTC in July, a substantial drop from July, when it purchased 31,466 BTC . Strategy executive chairman Michael Saylor believes Bitcoin is still growing, and that price action could get “boring” as institutional investors step in. Bitcoin ETFs saw $7.8 Billion In Inflows During Q3 Spot Bitcoin ETFs have registered staggering inflows in Q3 despite some minor setbacks. However, recent outflows have caused alarm, with institutional interest declining over the past few days, and bearish sentiment emerging. As a result, ETFs have seen outflows in recent days. The outflows have caused some pessimism about Bitcoin , especially as altcoin ETFs gear up for their debut. Bloomberg ETF analyst called the fear around spot Bitcoin ETF outflows “childish,” highlighting the fact that they registered $7.8 billion in inflows during Q3. “The spot bitcoin ETFs took in $7.8b in Q3, now $21.5b YTD and $57b since inception. Solid climb up. Yet some on here are miserable bc they live in childish fantasy that expects $1T of inflows every day. But real growth in reality is two steps forward, one step back.” Bitcoin (BTC) Price Analysis Bitcoin (BTC) is back in the red during the ongoing session, and is down nearly 1% as it struggles to stay above $113,000. The flagship cryptocurrency rallied on Sunday, rising over 2% to reclaim $112,000 and settle at $112,197. Buyers retained control on Monday as the price rose nearly 2% to cross $114,000 and settle at $114,365. If the current trajectory continues, BTC could end September in the red, trading inside a tight price band, and showing signs of weakening momentum. According to CryptoQuant data, demand waned after BTC failed to claim $115,000. Investor mood has turned cautious as September draws to a close. Analyst Axel Adler highlighted that BTC swung between $115,550 and $108,400 over the past week, settling into an even tighter range as the week drew to a close. Selling activity increased at lower highs, keeping prices low. Adler stated that the descending highs are a warning sign that buyers are losing ground. However, spot Bitcoin ETFs registered substantial inflows on September 29, indicating that institutional demand persists. According to SoSoValue, spot Bitcoin ETFs in the US registered over $520 million in inflows on Monday after two consecutive days of outflows. Fidelity’s FBTC led the charge with $298 million in inflows, followed by ARK 21Shares’ ARKB with $62 million. Bitwise’s BITB registered $47 million, while VanEck’s HODL registered $35.3 million. Invesco’s BTCO registered inflows of around $30.6 million. According to popular trader Cas Abbe, BTC is forming a bullish divergence, highlighting the RSI on the daily timeframe. “ BTC is forming a hidden bullish divergence now. Also, it's approaching a crucial resistance level around $115,000 level, and a reclaim will confirm the breakout. Keep an eye on it.” Analysts are also confident that the Bitcoin bull market will resume in October. Analyst Milk Road Macro stated, “Bitcoin tends to follow gold, 3-4 months down the line. If the correlation holds, $BTC is now ready for a last-minute spike through October/November, breaking out of its rising wedge.” BTC ended the previous weekend in the red, dropping 0.41% to $115,282 on Sunday. Selling pressure intensified on Monday as the price fell by over 2% to $112,736. Sellers retained control on Tuesday with BTC falling 0.64% to a low of $111,502 before settling at $112,017. Despite the overwhelming selling pressure, BTC recovered on Wednesday, rising over 1% to reclaim $113,000 and settling at $113,348. Source: TradingView Bearish sentiment returned on Thursday as BTC plunged nearly 4%, slipping below $110,000 and settling at $109,035. The price recovered on Friday, rising 0.61% but was back in the red on Saturday, registering a marginal decline and settling at $109,681. Bullish sentiment intensified on Sunday as BTC rallied, rising over 2% to cross $112,000 and settle at $112,197. Buyers retained control on Monday as the price rose almost 2% to cross $114,000 and settle at $114,365. BTC is down over 1% during the ongoing session, trading around $113,275. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
